Bunge Limited (BG) Position Reduced by Capstone Asset Management Co.
Capstone Asset Management Co. lowered its position in shares of Bunge Limited (NYSE:BG) by 7.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,295 shares of the basic materials company’s stock after selling 360 shares during the period. Capstone Asset Management Co.’s holdings in Bunge Limited were worth $320,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Bunge Limited by 9.0% in the first quarter. Vanguard Group Inc. now owns 13,226,070 shares of the basic materials company’s stock worth $1,048,298,000 after buying an additional 1,095,696 shares in the last quarter. BlackRock Inc. increased its stake in Bunge Limited by 1,532.8% in the first quarter. BlackRock Inc. now owns 7,991,765 shares of the basic materials company’s stock worth $633,427,000 after buying an additional 7,502,326 shares in the last quarter. LSV Asset Management increased its stake in Bunge Limited by 2.3% in the first quarter. LSV Asset Management now owns 5,130,126 shares of the basic materials company’s stock worth $406,613,000 after buying an additional 113,004 shares in the last quarter. State Street Corp increased its stake in Bunge Limited by 3.5% in the first quarter. State Street Corp now owns 4,235,969 shares of the basic materials company’s stock worth $335,753,000 after buying an additional 141,597 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in Bunge Limited by 6.1% in the first quarter. APG Asset Management N.V. now owns 2,094,920 shares of the basic materials company’s stock worth $166,043,000 after buying an additional 120,091 shares in the last quarter. 81.69% of the stock is owned by institutional investors and hedge funds.
Bunge Limited (BG) traded down 0.89% during trading on Friday, hitting $77.27. The company’s stock had a trading volume of 676,372 shares. Bunge Limited has a 12 month low of $58.19 and a 12 month high of $83.75. The firm has a market cap of $10.86 billion, a P/E ratio of 22.09 and a beta of 1.02. The firm has a 50 day moving average of $77.27 and a 200 day moving average of $76.56.
Bunge Limited (NYSE:BG) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The business had revenue of $11.65 billion for the quarter, compared to the consensus estimate of $10.88 billion. During the same period in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts predict that Bunge Limited will post $3.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 17th. Bunge Limited’s payout ratio is currently 48.98%.
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BG has been the subject of a number of recent analyst reports. Credit Suisse Group set a $90.00 target price on shares of Bunge Limited and gave the company a “buy” rating in a research report on Tuesday, July 18th. BMO Capital Markets reissued a “buy” rating on shares of Bunge Limited in a research report on Friday, May 5th. Zacks Investment Research cut Bunge Limited from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. BidaskClub cut Bunge Limited from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, J P Morgan Chase & Co cut Bunge Limited to a “neutral – underweight” rating and set a $70.00 price target on the stock. in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $84.83.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $80.00, for a total transaction of $210,880.00. Following the transaction, the insider now directly owns 20,214 shares of the company’s stock, valued at $1,617,120. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.
Bunge Limited Company Profile
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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